Middle East & Africa Elevators Market Size & Outlook
The elevators market in Middle East & Africa is expected to reach a projected revenue of US$ 6,306.4 million by 2030. A compound annual growth rate of 5.2% is expected of Middle East & Africa elevators market from 2025 to 2030.
Revenue, 2024 (US$M)
$4,644.2
Forecast, 2030 (US$M)
$6,306.4
CAGR, 2025 - 2030
5.2%
Report Coverage
Middle East & Africa
Related Markets
MEA elevators market highlights
- The MEA elevators market generated a revenue of USD 4,644.2 million in 2024.
- The market is expected to grow at a CAGR of 5.2% from 2025 to 2030.
- In terms of segment, traction was the largest revenue generating type in 2024.
- Machine Room-Less Traction is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2025 to 2030.
MEA data book summary
| Market revenue in 2024 | USD 4,644.2 million |
| Market revenue in 2030 | USD 6,306.4 million |
| Growth rate | 5.2% (CAGR from 2025 to 2030) |
| Largest segment | Traction |
| Fastest growing segment | Machine Room-Less Traction |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hydraulic, Traction, Machine Room-Less Traction |
| Key market players worldwide | TK Elevator, Schindler Holding AG, Konecranes Oyj, Hitachi Ltd, Hyundai Elevator, Mitsubishi Electric Corp, Toshiba Corporation, Fujitec, Aritco Lift, Emak, Sigma Elevators, Schumacher Elevator, ESCON Elevators, Canny Elevator |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.9% of the global elevators market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 49,881.6 million by 2030.
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Elevators Market Scope
Elevators market segmentation & scope
Elevators Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Canny Elevator | View profile | 1001-5000 | Suzhou, Jiangsu, China, Asia | http://www.canny-elevator.com |
| ESCON Elevators | View profile | 501-1000 | Mumbai, Maharashtra, India, Asia | https://www.esconelevators.com |
| Schumacher Elevator | View profile | 51-100 | Denver, Iowa, United States, North America | https://www.schumacherelevator.com |
| Sigma Elevators | View profile | 11-50 | Ahmedabad, Gujarat, India, Asia | https://www.sigmaelevators.in |
| Emak | View profile | 251-500 | Melikgazi, Kayseri, Turkey, Europe | https://www.emakelevator.com |
| Aritco Lift | View profile | 101-250 | Kungsängen, Stockholms Lan, Sweden, Europe | https://www.aritco.com/ |
| Hyundai Elevator | View profile | 1001-5000 | Chungju, Ch'ungch'ong-bukto, South Korea, Asia | https://www.hyundaielevator.co.kr |
| Fujitec | View profile | 101-250 | Belgrano, Distrito Federal, Argentina, South America | http://www.fujitec.com.ar |
| Konecranes Oyj | View profile | 16553 | Koneenkatu 8, P.O. Box 661, Hyvinkaa, Finland, FI-05801 | https://www.konecranes.com |
| TK Elevator | View profile | 10001+ | Düsseldorf, Nordrhein-Westfalen, Germany, Europe | https://www.tkelevator.com/global-en/ |
| Toshiba Corporation | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | http://www.toshiba.com/tai/ |
| Schindler Holding AG | View profile | 70405 | Seestrasse 55, Hergiswil, Switzerland, 6052 | https://www.schindler.com |
| Mitsubishi Electric Corp | View profile | 149134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | https://www.mitsubishielectric.com |
| Hitachi Ltd | View profile | 322525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | http://www.hitachi.com |
MEA elevators market size, by country, 2018-2030 (US$M)
Middle East & Africa Elevators Market Outlook Share, 2024 & 2030 (US$M)
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